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MEXICO
CITY, Mar 12, 2001 (El Economista/Infolatina via COMTEX) -- The
Mexican sugar industry's situation is "terribly critical,"
with the domestic price of sugar down 20 percent during the past three
months, Grupo Azucarero Mexicano (GAM) top executive Juan Gallardo
said. Gallardo said the price of a 50-kilogram sack of sugar is
down to 200 pesos, from 250 pesos three months ago. GAM one year ago
declared a suspension of payments, which currently remains in place.
Gallardo said the current harvest will yield 4.6 million metric tons
of sugar, with the domestic market likely to consume no
more than 4 million metric tons. The surplus of 600,000 metric tons
means that Mexico must reach an agreement with United States to boost
its sugar import quota as soon as possible, he
said.
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